$36 million condo, shopping complex announced for Regas site in Downtown Knoxville

WATE 6 On Your Side Staff - KNOXVILLE (WATE) - Developers formally announced Wednesday a $36 million, six story luxury mid-rise shopping and condominium complex on the site of the former Regas restaurant in downtown Knoxville.

Regas Square will be located at 333 W. Depot Avenue in what was the restaurant's parking lot. The complex will have 101 condo units, as well as restaurant and retail space. The facility will take up almost an entire block.

"This is a perfect spot for some more growth in our city," said Robert J. Booker, a longtime Knoxville native.

"We're thrilled to be in this location," developer Joe Petre said. "There's redevelopment all around us, and this area continues to expand. In five years' time, Regas Square will be in the center of everything."

"Regas Square not only represents the most significant residential and retail investment Knoxville has seen in years, it also will further enhance our thriving downtown and promote a vibrant local economy," Mayor Madeline Rogero said.

There are 20 different floor plans with large terraces, high ceilings, hardwood flooring, ample closet space, open kitchens and more. Pre-construction pricing starts at $189,900.

"Hopefully it increases the property values all around us gives people a great place to live," said Petre.